U.S. government wants more oversight of gold, money and bitcoins

The U.S. Senate is considering a new Bill that the government gives even more room to eavesdrop on its own population and confiscate assets. If passed, the bill would require Americans traveling with more than $10,000 in "monetary instruments" to report it to the government. So we're not just talking about cash, but also bitcoins and precious metals.

If you do not declare these assets to the government, it will be considered a financial crime under the new bill. You can now get a maximum of five years in prison for this, but they want to extend that to a maximum of ten years. In addition to higher penalties, the U.S. government will also have more powers under this bill to eavesdrop on people if there is a suspicion that you are carrying more than $10,000 in value. We're talking about tracking phone calls and reading emails and other text messages.

More financial repression

The U.S. government is already taking a lot of measures to keep its own population under control. For example, banks, stock brokers, casinos, exchange offices and traders in precious metals have also had to report suspicious money flows for some time. The new bill also requires traders in bitcoins and other crypto currencies to report suspicious transactions to the government. That is next to impossible, given the anonymous nature of this virtual currency.

The bill also gives the U.S. government more powers to confiscate its citizens' assets, the so-called Asset Forfeiture Program. For example, the number of offences for which the police are allowed to confiscate property is greatly increased. We are not only talking about money, cars and houses, but also about possessions that are kept in a safe.

Privacy

It is understandable that the government wants to do more to tackle money laundering and tax evasion, but the measures taken in recent years under the guise of combating terrorism are a direct attack on the privacy of citizens. The fact that someone has a lot of assets with them does not mean that this person has malicious intentions and should therefore be tapped. However, that is now in danger of becoming a reality. You are a suspect unless you can prove otherwise.

The possession of cash has been criminalized for years, as has all money flows that the government has no control over. This is precisely why cash, gold and increasingly bitcoins are a thorn in the side of governments and intelligence services. Under the guise of the terrorist threat, governments and intelligence services have taken on more and more power. How long will it take for governments toBuy gold anonymously Contain it?

U.S. government wants more oversight of gold, money and bitcoins